Highlights of Union Budget 2025.
(NEW DELHI, FEBRUARY 1st, 2025,pvginox.com)
- Kisan Credit Card limit enhanced from Rs. 3 lakh to Rs. 5 lakh
- Additional Infra in 5 IIT’s set up after 2014. IIT Patna to be expanded
- 10,000 more seats to be added in medical colleges in next year and 75,000 in next five years
- Rs. 500 Cr. for Centre for Excellence in AI
- Social Welfare Scheme for GIG workers
- Extension of Jal Jeevan Mission till 2028
- Urban Challenge Fund of Rs. 1 lakh crore to be set up
- Green field airports to be facilitated in Bihar in addition to Patna airport
- Rs. 20,000 Cr. for Private Sector R&D
- Top 50 tourist destinations to be developed. Focus on destinations linked to Budha
- ‘Heal in India’ to be promoted
- FDI limit for Insurance sector to be raised to 100% if entire premium invested in India
- Revamped KYC Registry to be rolled out
- Customs: Rationalize tariff structure
- 36 life saving drugs exempt from duty & 5% duty on 6 life saving drugs
Direct and Indirect tax - New Income tax Bill Next Week
- New Income tax Bill to be simple and close to present
- Personal Income Tax Reforms for Middle class
- NIL Income tax upto 12,00,000
- Income Tax slab changed
- TDS and TCS rationalize
- Limit for TDS on rent increased from Rs. 2.4 lakh to Rs. 6 lakh
- Limit for TDS on Senior citizens enhance from Rs. 50,000 to Rs. 1,00,000
- TCS removed on remittance for education purposes
- ‘Updated Return’ time limit enhanced to 4 years from present 2 years.
🚀 Budget 2025
Summary
The government’s focus in the budget is on development 📈…
Global growth slightly affected due to global tensions 🌍⚡️…
The budget emphasizes 10 key themes 🏗…
More focus on the development of the poor 🏡, women 👩💼, and youth 👨🎓…
Increased emphasis on rural development 🚜 and manufacturing 🏭…
More reforms to be introduced in the financial sector 💰…
🔹 Key Announcements:
✅ Dhan Dhanya Yojana 🌾 to be launched in 100 districts…
✅ Special 6-year mission for Tur, Urad, and Masoor dal 🌱…
✅ Makhana Board 🍘 to be set up in Bihar…
✅ Central agencies 🏢 to purchase pulses for 4 years…
✅ New schemes 🌱 for vegetable and fruit 🍏 production in collaboration with states…
✅ Development of the marine sector 🐟…
✅ Kisan Credit Card 💳 limit increased to ₹5 lakh…
✅ Urea plant 🏭 to be set up in Assam…
✅ India Post 📦 to be developed as a major logistics organization 🚚…
✅ Special credit card 💳 for small businesses…
✅ Self-reliance in edible oils 🛢…
✅ Special schemes for footwear 👞 and leather 👜…
✅ India 🇮🇳 to become a global hub for toys 🧸…
✅ Special scheme for women from backward classes 👩👩👧👦…
✅ 22 lakh new jobs 🏢👷 to be created under the Leather Scheme…
✅ Launch of the National Manufacturing Mission 🏗…
✅ Increased emphasis on Indian languages 📖 in education…
✅ More IIT institutes 🎓 to be established…
✅ 75,000 new seats 🏥 in the medical field in the next 5 years…
✅ Special AI 🤖 research centers to be set up…
✅ Health insurance 🏥💊 scheme for small workers…
✅ UPI-linked card 💳 for small vendors…
✅ UPI-linked credit card limit set at ₹30,000 💰…
✅ Interest-free funds 🏗💵 for states to boost infrastructure development…
✅ ₹1 lakh crore fund 💰 announced for urban development 🏙…
✅ Increased focus on nuclear energy ⚛️ by 2047…
✅ Special scheme for nuclear energy ⚛️…
✅ Special scheme for the ship-breaking industry 🚢⚙️…
✅ More cities 🏙 to be connected under the ‘Udaan’ 🛫 scheme…
✅ New airport ✈️ to be constructed in Bihar…
✅ 40,000 housing units 🏡 to be built under the SWAMIH scheme…
✅ 52 new tourist destinations 🏝 to be developed in collaboration with states…
✅ New mining policy ⛏️ to be introduced…
✅ ₹20,000 crore investment 💰 in R&D 🔬 for the private sector…
✅ All government secondary schools 🏫 to be connected with broadband 🌐…
✅ New schemes to boost exports 📦…
✅ Buddha-related sites 🏯 to be developed…
✅ Special scheme for preserving Indian scripts 📜…
✅ Easier access to funds 💵 for export promotion…
✅ New Income Tax Bill 📜 to be introduced next week…
✅ 100% FDI limit 🌍 in the insurance sector 🏦…
✅ Simplification of RE-KYC process 📑…
✅ 100% FPI limit 📊 in the insurance sector…
✅ Custom duty removed 🚫💊 on 36 life-saving medicines…
✅ Changes in custom duty on electronic goods 📱…
✅ No primary duty on lead & zinc ⚒️…
✅ Duty removed 🚫 on crust leather 👜…
✅ New, simplified Income Tax law 🏦📜 to be introduced…
✅ TDS rates to be made simpler 📉…
✅ Major tax relief for senior citizens 👴👵…
✅ Tax exemption limit for senior citizens increased to ₹1 lakh 💰…
✅ TDS exemption limit on rent 🏠 increased to ₹6 lakh…
✅ No penalty 🚫 on delayed TCS payments…
🎉 Biggest Announcement:
No tax on income up to ₹12 lakh! 💰🎊